Cisco buys Moto -- no, not that Moto
- 19 May, 2010 04:40
Cisco Tuesday said it intends to acquire privately held Moto Development Group, a product design consulting firm that helped develop Cisco's Flip video camera. Moto, not to be confused with Motorola (which sometimes is referred to by the nickname Moto), develops products and product strategies for the consumer industry.
Cisco said San Francisco-based Moto will enhance its consumer product development road map
The planned acquisition will be the usually acquisitive Cisco's first of 2010 (it did recently take a stake in smart grid company Grid Net, however.). Moto employs 35 consultants.
Financial terms of the transaction were undisclosed. The acquisition is expected to be complete in the fourth quarter of Cisco's fiscal year 2010.
Moto employees will become part of the Cisco Consumer Products team led by Senior Vice President and General Manager Jonathan Kaplan.
